Powell's hawkish rhetoric drove the 2-year US Treasury yield up by about 10 basis points on Monday, narrowing the cumulative decline in September to nearly 26 basis points

Wallstreetcn
2024.09.30 19:29

At the New York closing on Monday (September 30th), the yield on the 10-year US Treasury benchmark bond rose by 5.13 basis points to 3.8019%. In September, it fell by a total of 10.54 basis points, hitting a low of 3.5952% on September 17th at 20:30 Beijing time, before gradually recovering lost ground. The yield on the 2-year US Treasury bond rose by 9.63 basis points to 3.6554%. Federal Reserve Chairman Powell stated that "if the economy meets expectations, the Summary of Economic Projections (SEP) will suggest that the FOMC will take action twice in the future, with a total rate cut of 50 basis points." Subsequently, the yield rose to 3.6677% after falling by 26.31 basis points in September, trading mostly in the range of 3.7% to 3.5% during the period, and hitting a low within the period on September 25th

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